1. 8K Miles March quarter net zooms 145% to Rs 40 crore

8K Miles March quarter net zooms 145% to Rs 40 crore

Cloud computing company 8K Miles Software today reported a 145 per cent jump in the March quarter net profit at Rs 40.18 crore on higher revenues.

By: | Mumbai | Published: May 10, 2017 7:39 PM
For the full year, the Chennai-headquartered company posted a 163 per cent jump in net profit at Rs 104.14 crore. (Express Photo)

Cloud computing company 8K Miles Software today reported a 145 per cent jump in the March quarter net profit at Rs 40.18 crore on higher revenues. For the full year, the Chennai-headquartered company posted a 163 per cent jump in net profit at Rs 104.14 crore. During the reporting quarter, its overall revenue nearly doubled to Rs 166.66 crore from Rs 86.35 crore in the year-ago period. “We continue to see a lot of cloud business opportunities around data centre consolidation, modernisation, and globalisation among mid-size to large pharma and life sciences customers,” chairman and managing director Suresh Venkatachari said.

He said more enterprise workloads will move to public clouds such as Amazon Web Services, Microsoft Azure and Google Cloud with rising digital transformation at businesses. A company statement said it added eight new clients from the Fortune 500 list during the fiscal. The company board recommended a dividend of Rs 7 per equity share of Rs 5 face value for the fiscal. The company scrip closed 1.16 per cent up at Rs 624.55 on the BSE today as against a 1.05 per cent gains on the benchmark.

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